[TraderBG]

I'm still a sophomore in college and have not yet decided what I will major in. I want to make efficient use of my time and make whatever I major in work for the betterment of my trading. Starting out I was leaning towards economics and finance obviously but I'm noticing how much of a role psychology plays in the market. So I'm curious what other traders think. What would you choose and why? And yes I know that no degree in the world teaches trading and only screen time makes a trader so no need to reiterate this to me but since I'm already getting a degree, which one can be utilized the best?

ps I'm currently a daytrader and will probably always be but I do hope to one day incorporate swing trading into the mix.

Thanks for any advice

[brownsfan019]

My degree is in finance and business mgmt BG and that has served me well. I think seeing the different views of the market and also having some courses in managing a business has helped. The one thing that really helped me was that in the finance dept a new professor at the time got a stock trading/analyzing course together where the school gave this class $250k in real money to manage. That was the best experience I had in college by far. While we were more of a fundamental swing trading group, it really opened my eyes to what was going on.

The majors I could see providing some help in some fashion would be finance, econ, business mgmt and psychology. Like you said, nothing is really going to prep you for daytrading, but those could help in some way.

[Soultrader]

I agree with bf. Finance, business, and psych are my 3 top recommendations. Though I took none of those in my brief time in uni. Oh yes, and dont forget to add poker to your triple major.

[Eiger]

Think about a few courses in stats, finite math, and probability analysis. Understanding probabilities -- really understanding probabilities -- is one of the most useful things you can study for trading.

In terms of psych courses, you can focus on social psych (group behavior) and behavioral finance/investment psychology, if offered. A course in cognitive psychology, especially one that deals with decision-making heuristics and cognitive biases would be of good, practical value. You would also benefit from a psych course on human performance or sport psych, but you may not find that on the undergrad level. Other standard psych courses like abnormal psych, tests & measurements, etc probably won't have that much utility unless you want to specialize in the psychology of trading.

You might also want to take a course in computer programming like C++ so you can at least be familiar with how charts and indicators are made and maybe even build your own. Learning Excel is also handy for trading.

[TraderBG]

Excellent responses guys. Much appreciation!

[eric341]

Great post eiger. I will be majoring in finance and psychology, minors will be acctg/economics and stats

[rock]

Anything that can land you a decent job when you need or want one.

Finance, econ(stats included), psych are all good. I took an investment course where we managed an investment portfolio very conservatively in its attempt to teach value investing. It demonstrated a consistent unspectacular long term return. All of it can be self taught at the undergraduate level.

Why the recommendations for business? Do you guys mean business as in corporate management or do you guys mean general business courses?

[lordbinder]

i got a corporate finance degree and a masters on economic and finance
beware that even that the college degrees will teach you a lot, the minute you are on your own youll realize that college didnt actually teach you most of waht you really need when analyzing and trading
I ended up as an assistant professor on account I knew more of bonds markets than my teachers, since my grandfather was a bonds trader and taught me since I was a teenager